Mastercard, PayPal, and Robinhood to Facilitate Crypto Adoption through Smoother On-ramps – Here's What You Need to Know
Cryptocurrencies are soaring in popularity worldwide as the traditional financial system shifts to incorporate more efficient digital systems.
However, despite the growing interest in cryptocurrencies, it is still challenging for novices to deal with terms such as hashrate and gas fees.
Recently, top financial institutions are unveiling new crypto products and services to improve user access.
Mastercard, Robinhood, and PayPal discussed plans for better on-ramping in crypto at Consensus 2023.
The GM of blockchain, crypto, and digital currencies at PayPal, Jose Fernadez, stated that despite the current crypto market drop, mainstream crypto adoption is close.
According to Fernadez, PayPal adopted crypto technology, believing it is a faster and more inclusive financial environment.
Also, the EVP of blockchain and digital currencies at Mastercard, Raj Dhamodharan, stated that the crypto ecosystem is transitioning.
According to Dhamodharan, the industry is still researching the technology and what benefits could be from it.
Also, he mentioned that newcomers to crypto are willing to use a trusted platform to take advantage of Web3 services.
As such, household names incorporating crypto into regular activities could be the catalyst that drives cryptocurrencies to mainstream adoption.
Notably, Mastercard launched Crypto Credential on April 28, the standards and infrastructures aimed at certifying the interactions between customers and businesses using blockchain networks.
On their official website, Mastercard stated that crypto and blockchain have significant innovations that make life easier for users.
However, the lack of proper protection makes the process vulnerable to attack and destroys customers' trust.
Therefore, regulators
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